China is another only to the US for its size, and it continues to overgrow, especially with its import and exports. It manufactures many different products and shipping them all over the world, including but not limited to, mobile phones, electrical machinery, toys, and sporting equipment, plastics, bedding, and furniture.
It has the largest automotive market, with its more than 1.3 billion population. It has the potential to overtake the US to become the largest economy in the world. This has led to many businesses choosing to import from China. So here is a look at why they are so attractive and how to take advantage of it.
Competitive with other manufacturers
There is a misconception about products from China that they are cheaply and poorly made. But the majority of the time, this is not the case. Otherwise, China would not have the success it does in sending its products around the world! Buyers should set their standards on what they find acceptable, and if they are placing those standards too low, consumers should have a problem with that.
There are many great names in various industries that have their products made in China and are incredibly successful. Companies need to set strict conditions on the quality of materials, the quality control, and the manufacturing standards they have.
Less red tape nowadays.
Once the process of choosing to import from China was complicated because there were many red tapes to cut through, in recent years, many of those obstacles that discouraged foreign companies from working with Chinese suppliers have been relaxed. In 2001 China became a part of the World Trade Organization, which led to a more liberal stance and opened up a lot of opportunities. It is a lot easier and also safer to now buy Chinese products.
Many workers available
A considerable advantage China has is its high population when it means there are a lot of workers. With lower costs of living, wages to Chinese workers are a lot less than those in Europe or the US.
This means companies can save a lot of money using labor in China, and manufacturing costs are reduced significantly. There are risks, though, including language differences—some staff in specific departments who also speak the language your business works in predominately.
Take into consideration Chinese business etiquette.
You are also more likely to see better success if you understand Chinese business etiquette and respect that. Victorious, you are in your business transactions. Even with a more liberal approach to international business transactions, culture and traditions are still relevant.
You will need the flexibility to import from China successfully. It also helps a great deal to use a private company that is experienced with working on inspecting and sourcing products from China and performing high-quality control.